US EXIM Bank Considers Over P2 Billion Investment in Botswana’s Former BCL Mine Assets

US EXIM Bank Considers Over P2 Billion Investment in Botswana’s Former BCL Mine Assets. The Export-Import Bank of the United States (EXIM) has signalled potential financial support of up to US$150 million (over P2 billion) for the redevelopment of Botswana’s former BCL mine assets, marking a major show of confidence in the country’s critical minerals sector.

The non-binding Letter of Interest (LOI) was issued to NexMetals Mining Corp, a Canadian company formerly known as Premium Resources, which is spearheading the revival of the Selebi and Selkirk nickel-copper-cobalt-platinum group metal (PGM) projects.

If approved, the financing would come with a repayment term of up to 15 years, and aligns with the China and Transformational Exports Program (CTEP) under EXIM’s 2019 reauthorization. The programme supports U.S. strategic interests, particularly in sectors tied to critical minerals and industrial development.

NexMetals CEO Morgan Lekstrom welcomed the move, describing it as a “strong indication of the United States’ growing interest in Africa’s mining landscape,” and praised Botswana as one of the continent’s most stable and investor-friendly jurisdictions.

EXIM has also expressed interest in other Botswana projects, including Giyani Metals’ Kanye Manganese development, further highlighting Botswana’s importance as a regional player in future-facing mineral resources.